Final answer:
The retention period for personally identifiable information in a SAR is usually five years, which is determined by anti-money laundering laws and can vary by jurisdiction.
Step-by-step explanation:
The question refers to the retention period for personally identifiable information (PII) as stipulated in the requirements for a Suspicious Activity Report (SAR), which is often tied to financial institutions and the laws that govern anti-money laundering and the countering of financing terrorism. In the context of SAR filings, such information must typically be maintained for a period of five years. This duration allows for the potential review by law enforcement bodies in cases where an investigation into the suspicious activity is necessary.
It's important to note, however, that this time frame can vary depending on jurisdiction and the specific regulations of the financial institution's country. For this reason, it's always best practice to consult the latest local regulations or guidance provided by financial oversight bodies to confirm the current requirement.